Hewlett-Packard Co predicted that overall IT spending would bounce back next year, but set a fiscal 2010 revenue forecast that came in just below Wall Street's expectations. The IT industry will return to growth in 2010, and HP should outpace that growth, Chief Executive Mark Hurd told an audience at the company's yearly analyst meeting
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Swiss banks are worried that new Swiss regulations on staff bonuses to limit excessive risk-taking go too far and could put the country's key financial industry at a disadvantage to international peers. The FINMA regulator announced proposed rules to force banks to link bonuses to long-term performance in June. On Friday, FINMA published banks' responses
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Britain's leading share index was up 0.1 percent early on Friday, as a pledge by world leaders to keep emergency economic support in place until a recovery is more evident helped lift energy stocks, offsetting weaker banks. By 0830 GMT the FTSE 100 index was 7.06 points higher at 5,086.33 after it closed 60.10 points
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Group of 20 leaders will aim to implement new rules by the end of 2012 to improve the quality and amount of bank capital and discourage excessive leverage, a draft summit communique showed on Friday. The "internationally agreed" rules, which would be drawn up to help prevent a repeat of the financial crisis, would be
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The Group of 20 will agree to phase out subsidies on oil and other fossil fuels in the "medium term," but will not set a firm timetable for the move aimed at combating global warming, a draft statement said. The G20 will also intensify efforts to reach a U.N. deal on climate change later this
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The Group of 20 will take on the role of caretakers of the global economy, giving rising powers such as China more clout, and roll out tougher rules on bank capital by the end of 2012, a draft communique said on Friday. Heading into the second day of a summit aimed at ensuring the world
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Asian stocks fell and the U.S. dollar extended gains on Friday after central banks said they were winding down extraordinary stimulus measures, raising fears the days of fast flowing liquidity were numbered. Japan's Nikkei share average led declining equity markets in Asia, falling 2.9 percent. Bank shares dropped after Nomura Holdings said it would raise
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The number of U.S. workers filing new claims for jobless benefits fell last week, but a surprise drop in sales of existing homes in August suggested the economy's recovery from a severe recession would be slow. A report from the Labor Department on Thursday showed new claims for unemployment benefits unexpectedly fell 21,000 to a
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Britain's top share index fell 0.3 percent by midday on Thursday, led lower by banking stocks with investors cautious ahead of the outcome from the latest Group of 20 leaders' meeting. At 1126 GMT, the FTSE 100 was down 14.11 points or 0.3 percent at 5,125.65, having closed 0.1 percent down on Wednesday. "The FTSE
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Britain's economy has turned a corner thanks to unprecedented stimulus measures, weaker sterling and the end of the destocking cycle, but the recovery will be slow, Bank of England chief economist Spencer Dale said. In a speech to business leaders on Thursday, Dale also warned that the recovery faced challenges from much-needed adjustments to banks'
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